Company announcements

Harmony reduces carbon footprint and lowers energy supply risk

August 15, 2023

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Phase 1, 30MW solar photovoltaic plant commissioned in Free State

Johannesburg, Tuesday, 15 August 2023. Harmony Gold Mining Company Limited (“Harmony” and/or “the Company”) is pleased to announce that the 30 megawatt (MW) solar photovoltaic plants in the Free State have been commissioned.

These plants are currently delivering green electrons to our shafts and expected to deliver approximately 70 gigawatt hours of renewable energy to Harmony’s Free State operations per annum. Phase 1 will reduce carbon dioxide emissions by approximately 65 000 tonnes in the first 12 months of operation.

Construction of Phase 2 of our renewable energy programme is expected to commence in December 2023 (“FY24”) and be completed in FY25. Once complete, this will add a further 137MW in renewable energy.

The first 100MW of Phase 2 will be largely funded using the R1.5 billion green loan that was secured in June 2022. The remaining 37MW will be delivered through a power purchase agreement.

We anticipate an estimated saving of R425 million a year in electricity costs once Phase 1 and 2 are complete.

“The renewable energy programme is critical to Harmony as we continue to decarbonise whilst lowering our energy supply risk and alleviating pressure on the national grid. This comprehensive programme will improve our energy mix, ensuring we achieve our goal of becoming net carbon zero by 2045. The allocation of capital towards such sustainable projects further demonstrates our commitment to the environment and decarbonisation as we continue “Mining with Purpose”, said Peter Steenkamp, Harmony CEO.

15 August 2023

For more details, contact:

Jared Coetzer
Head of Investor Relations
+27 (0)82 746 4120